Eventbrite sets IPO range of $19 to $21, valuing it at $1.8B

Eventbrite has taken its final step toward becoming a publicly traded company.

In an updated filing this morning, the ticketing and events company announced plans to sell 10 million Class A shares on the New York Stock Exchange at a price range of $19 to $21 under the ticker symbol EB.

At a midpoint price, Eventbrite will raise $200 million at a $1.8 billion valuation.

The company filed its initial IPO paperwork confidentially back in July, then unveiled its S-1 to about two weeks ago.

Eventbrite is not profitable and has been losing money since 2016. According to the documents, it posting losses of $40.4 million in 2016, $38.5 million in 2017. In the first six months of 2018, the company has posted a net loss of $15.6 million.

Its revenue is rising though, increasing from $133 million in 2016 to $201 million last year.

Backed by Sequoia, Tiger Global and T. Rowe Price, which together own about 48% of the company, Eventbrite has raised roughly $330 million from private investors.

from www.tech-life.in